Finance

Your latest news resource for Oil & Gas Finance

It is a simple formula…when oil prices rise oil companies prosper. This past week the energy sector continued a month long winning streak posting its biggest weekly gain for this year. Given the modest increase in crude a more likely market motivator is geopolitical risk. Several oil producers are at risk including Venezuela where …

Oil ended higher Thursday for a fourth consecutive session, with the U.S. benchmark settling at a more-than-six-week high on expectations for stronger demand and efforts by major producers to maintain a cap on crude output. October West Texas Intermediate oil CLV7, +0.02% on the New York Mercantile Exchange rose 59 cents, or 1.2%, to settle at $49.89 a …

NEW YORK/BOSTON (Reuters) – More than 22,000 barrels of oil, refined fuels and chemicals spilled at sites across Texas in the wake of Hurricane Harvey, along with millions of cubic feet of natural gas and hundreds of tons of other toxic substances, a Reuters review of company reports to the U.S. Coast Guard shows. The …

As the U.S. market begins its recovery from the double whammy served up by hurricanes Harvey and Irma, my earlier projections of where crude oil prices are headed have come true. Just a little quicker than anticipated. As I am writing this, WTI (West Texas Intermediate, the benchmark crude rate for futures contracts written in New York) …

Bloomberg is attempting to make the case that Tesla’s CEO Elon Musk and cheap gasoline prices have driven natural gas away as an economically viable vehicle fuel. But that does not seem to be the case if you look at the role compressed natural gas (CNG) and liquefied natural gas (LNG) has been playing on a global …

LONDON — The Danish container shipping company A.P. Moller-Maersk said on Monday that it had agreed to sell its oil and gas business to the French energy giant Total for $4.95 billion. Oil prices have started to recover after an extended downturn, strengthening profit at major oil producers in the second quarter of this year and opening …

Source: Wall Street Journal From California’s Central Valley to the Native American lands of Oklahoma, more small- and mid-sized oil firms—many backed by private equity—are forgoing expensive shale drilling projects and opting for old-school wells instead. As crude prices languish under $50 a barrel, and with increasing costs for land, labor and infrastructure, some shale …

Astenbeck Capital Management founder Andy Hall is so highly regarded in the oil trading business that he earned the nickname “god.” But Hall has admitted that the value of his analysis has diminished in an age of automated trading. The rise of machine-based algorithmic trading is injecting so much volatility into oil markets, it’s now difficult …

BP beat analyst expectations on Tuesday, despite profits more than halving from the first three months of the year after a hefty charge from an unsuccessful project in Angola. Here are some of the highlights from the earnings: Underlying replacement cost profit, used as a proxy for net profit, $684 million in the second quarter …

Oil prices soared nearly 10% on news that OPEC has reached a much anticipated agreement to reduce output by 1.2M barrels per day, bringing the total daily production to 32.5M bpd. The agreement, which was announced Wednesday at 11:00am EST, is contingent on a reduction of production by 600,000 bpd from non-OPEC countries, with Russia …

Search Our Site

The spill was first reported to state and federal officials on Aug. 31, but no volume was given at that time. The company next reported the spill was 1,000 barrels. In a report filed last week and released Monday, Magellan put the spill 10 times higher at 10,988 barrels.

Fuel Fix, the Houston Chronicle’s must-read source for energy industry news and analysis, is moving to chron.com, the Chronicle’s free site. Typing FuelFix.com should redirect you to the new site, which will host the same quality content you’ve come to expect. If you are not automatically redirected, you can click here to go to chron.com/business/energy. The transition […]

As pockets of geopolitical tension leave the crude market neither shaken nor stirred, hark, today we dig into some of these hotspots to see what their energy flows look like, and how they could be impacted: Fears have been stoked in recent days about the impact to US imports of Venezuelan crude amid possible sanctions being applied […]

With pipeline capacity still relatively limited from the Canadian oil sands into the U.S, Houston’s USD Partners is expanding its terminal capacity in Oklahoma to offer more rail transportation access. While rail transportation still is considered more dangerous than pipelines, rail car access offers oil companies more affordable transportation options from Canada when plans for […]

The California-based solar panel company Sunrun has partnered with Think Energy, a retail electricity arm of the French power company Engie, to offer residential solar panel packages for Texas residents. Sunrun will offer solar panel systems for lease or purchase for Texas residents; the company will also help arrange a purchase through a loan program. […]